February Home Prices and Sales Increased

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Mel Foster Co. reports that home prices and sales in the Quad Cities Metro and surrounding areas increased in February.

This is a positive sign for the Quad Cities and surrounding areas, and it's nice to see the numbers turning around as we enter the busier season for real estate

Davenport, IA (Vocus)March 13, 2010

Mel Foster Co. reports that home prices and sales in the Quad Cities Metro and surrounding areas increased in February.

According to the data supplied by the Quad Cities Realtor Association MLS Residential and Condominium Sales, February’s average home sale price for Mel Foster Co. was up 2.5 percent from last February. The average sales price in February 2010 was $147,352, while the average price in February 2009 was $143,607. February prices were up 4.3 percent from January 2010 when the average price was $140,908.

The total transactions (either listing or buying) for Mel Foster Co. were 161, which was up 29 percent from this January when 114 homes were sold. February sales basically represented the same as February 2009 when 160 transactions were completed.

Kris Ratigan, Director of Marketing for Mel Foster Co. reported that there were 188 new active listings on the market for Mel Foster Co. in February 2010 compared to 166 new active listings in February 2008 and 196 new active listings in February 2009.

“This is a positive sign for the Quad Cities and surrounding areas, and it’s nice to see the numbers turning around as we enter the busier season for real estate,” says Ratigan.

About Mel Foster Co.
Founded in 1921, Mel Foster Co. is the Quad Cities Real Estate Leader of Eastern Iowa and Western Illinois serving Davenport, Bettendorf, Moline, Rock Island and the surrounding Quad City area, and it is Iowa’s largest independently owned real estate company. The company specializes in residential sales and offers services in insurance, commercial, farm and land sales, land development, and management, rental, relocation, career development, new construction and senior services.